As per the discussion Roger and I recently had, the response from Phat Idea appears below. I haven't responded to them just yet but when I do I plan to let them know that there are a lot of (skeptical) eyes on them! But now at least, I'm still willing to give them the benefit of the doubt. If anyone else can think of a question for these guys please chime in as I will incorporate the feedback from this forum into the response. Thanks!
Thanks for your note. Yes, PHATIDEA is a new business, but not new to product development, marketing and helping individuals like yourself in gaining acceptance of a new product.
Invent Bay is a website showcasing Inventions in hopes of locating an individual/business entity who may be interested in partnering with the Inventor in hopes of taking their IDEA/product to the next level. PHATIDEA is this individual/business entity that will partner with you and do just that, help turn your product into profits . Invent Bay does not discriminate and most of its submitted IDEAS/Products are not ready to bring to market. PHATIDEA only will actively sell and market a product that is post-manufacture and ready to ship to consumers. The great thing about PHATIDEA, that I believe you can appreciate, is twofold. The Inventor makes money as their product sells on PHATIDEA and the potential of an Angel Investor, Partner, Big Box retailer taking notice of your product is also possible.
Invent Bay does also offer “Exposure Packages,” to its inventors. We are unsure of these packages success but they do require an upfront fee.
Idea Connection does not play in our space and allows ANYONE to post an IDEA on their site. Its products are B2B and it is not a shopping cart site. If you pull back, the companies main focus is not selling your IDEA or supporting it though marketing and advertising efforts.
Invent Tube helps you market your product through web design, advertising and marketing consulting. PHATIDEA is your product’s WEBSITE and your PR, marketing, advertising firm, for ZERO upfront fee.
Idea Buyer is similar to Invent Bay.
Patent Auction sells Patents; not our business. PHATIDEA does believe this is a growing marketplace but is unsure through what means this market will develop.
All the above sites merely allow Inventors to post their IDEAS/products online, no different than a message board. Sure, it may get you exposure but it puts no money in your pocket and their efforts are not focused on making your IDEA a PHATIDEA. Their sites are not built for consumers. Not sure how many Jack and Jill’s shop at Invent Bay (probably very few), the site is not targeting the end-user or individual consumer.
PHATIDEA.COM is a FREE service (always will be), we charge no upfront fees to Feature/Sell, market, advertise and drive traffic to your product on our site. If your product never sells on our site we make no money. So just as you want to see your IDEA sell, so do we. Both PHATIDEA and the Inventor’s interests are aligned. It’s that simple. Think of us as the http://www.amazon.com
for IDEAS. The difference, we sell your product without the large inventory requirements, upfront fees and other financial strains most individual inventors cannot afford. PHATIDEA sells your product to the end-user, not Boeing, 3M or GE.
PHATIDEA.COM is a site built to market your IDEA to consumers. The site lays out similar to any of your well known shopping cart sites. An IDEAS exposure will be that of quality and the IDEAS we feature will only be quality IDEAS.
Please read our About PHAT IDEA link (a brief excerpt):
“PHATIDEA understands the constraints of obtaining financing, the challenges of fulfilling big box retailer inventory requirements. How about just getting someone at these retailers to answer your call and email? PHATIDEA is familiar with the promises “Invent-a…” businesses make and all the money they take. PHATIDEA.COM will showcase your “Idea” with NO upfront charge/fee. Why spend $10,000 on a website and countless hours maintaining shopping carts when PHATIDEA.COM has built a turnkey solution to matching buyers with sellers? With a central web address on the internet for all “Ideas,” PHATIDEA.COM will be THE recognizable portal to the world versus a single product website that has to originate traffic via expensive PR, Advertising and other media avenues that provide little guarantee of long term success for your PHATIDEA.”
We believe the difference is CLEAR, PHATIDEA is the choice for Inventors looking to unlock the earnings potential of their product NOW.
PHATIDEA does have to make money to pay its bills. Our contract is drafted per individual IDEA we sell. They include our expectations of customer service to the buyer of your product, turnaround times, inventory levels and a percentage of each item that sells. PHATIDEA does not have a link to the contract on its site simply because PHATIDEA.COM is a retail site. It is not common place to make vendor legal contract terms available on a retail site.
Hope this helps answer your questions.
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